Glencore takes back ownership of logistics firm Access World

LONDON, ⁠April 14 (Reuters) - Commodity ​trader and miner Glencore has taken back ​ownership ‌of Access World, the global logistics ⁠firm said on Tuesday. Glencore's ownership ⁠is subject ​to approvals by a Dutch court and regulators, which are expected to be ​obtained ‌at the start of the third quarter. "Access World can confirm that Glencore has taken initial enforcement ​rights under vendor financing provided by ‌Glencore to Global Capital Merchants to revert the ownership ‌of the business back to Glencore," Access World said in a statement. "This follows ​the lack of repayment of the vendor ‌financing provided by Glencore," it added. Access World owns and leases warehouses to ⁠store ⁠metals including copper and ranks ‌among major logistics players. It was sold by ​London-listed ​Glencore in 2022 to ‌Global Capital Merchants incorporated in the British Virgin Islands.

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